Bangladesh For Transport Connectivity Within BIMSTEC
Siddique Islam - All Headline News Foreign Correspondent Dhaka, Bangladesh (AHN) - Putting forward a five-point plan to turn BIMSTEC into an effective economic bloc, its chair Bangladesh on Saturday expressed its positive views in favor of transport connectivity among the member countries. Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), a regional group, is comprising Bangladesh, India, Sri Lanka, Thailand, Burma (Myanmar), Nepal and Bhutan, which aims at acting as a bridge between the eastern and the western parts of Asia. Foreign Minister of Bangladesh M Morshed Khan proposed for an early introduction of Free Trade Area (FTA), a road map for a customs union towards an economic community by 2020 and institutional framework for monetary cooperation among the member states while addressing a dialogue in Dhaka. "If one goes by the core economic yardsticks of trade and investment for evaluating the success of BIMSTEC, the highlight would be that BIMSTEC is poised to enter into a free-trade regime," the foreign minister said. According to a recent study, $43 to 59 billion worth of trade in goods could potentially be generated under a BIMSTEC free trade area (FTA).
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